China's Bank Lending Neared ¥7.5t in 2011; 176m Traveled During New Year Break

Bank Lending Hits ¥7.47t in 2011China's banks extended ¥7.47 trillion in loans last year, pushing up total outstanding loans 15.8% to ¥54.79 trillion as of the end of 2011, preliminary central bank figures show. Loans made in 2011 to industrial companies declined by ¥281.9 billion to ¥517.1 billion and loans to the real estate sector declined by ¥770.4 billion to ¥1.26 trillion.

China's Banking Assets Climb to ¥111tChina's banks had ¥111.5 trillion in assets and ¥104.3 trillion in liabilities as of the end of 2011, up 18.3% and 18% respectively from a year earlier, according to the banking regulator. Large state-owned banks had ¥52 trillion in assets and ¥48.7 trillion in liabilities as of December 31, 2011, up 13.4% and 13.1% respectively from a year earlier.

176m Traveled During New Year BreakChina's tourism sector received 176 million people who spent ¥101.4 billion during the past week-long new year holidays, up 14.9% and 23.6% respectively from the same period a year ago, according to the National Tourism Administration.

China's Crude Steel Output Up 9% in 2011China's crude steel output rose 8.9% to 695.5 million tons in 2011, the World Steel Association said. Global crude steel output was up 6.8% to 1.53 billion tons over the same period.

$1 = ¥6.31

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